NOV Inc. (NYSE:NOV) Plans $0.08 Quarterly Dividend

NOV Inc. (NYSE:NOV) declared a quarterly dividend on Thursday, November 20th. Shareholders of record on Friday, December 5th will be paid a dividend of 0.075 per share by the oil and gas exploration company on Friday, December 19th. This represents a c) dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Friday, December 5th.

NOV has raised its dividend by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 1 years. NOV has a payout ratio of 22.2% meaning its dividend is sufficiently covered by earnings. Analysts expect NOV to earn $1.65 per share next year, which means the company should continue to be able to cover its $0.30 annual dividend with an expected future payout ratio of 18.2%.

NOV Stock Performance

Shares of NOV stock traded down $0.86 during trading hours on Thursday, hitting $14.36. 6,016,711 shares of the company’s stock traded hands, compared to its average volume of 4,253,256. The company has a fifty day simple moving average of $13.87 and a 200-day simple moving average of $13.19. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.55 and a quick ratio of 1.72. The stock has a market capitalization of $5.24 billion, a price-to-earnings ratio of 14.36, a PEG ratio of 4.73 and a beta of 1.25. NOV has a 12-month low of $10.84 and a 12-month high of $16.84.

NOV (NYSE:NOV) last posted its quarterly earnings data on Tuesday, October 28th. The oil and gas exploration company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.13). NOV had a return on equity of 5.89% and a net margin of 4.36%.NOV’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.33 EPS. Equities research analysts anticipate that NOV will post 1.4 EPS for the current fiscal year.

Institutional Investors Weigh In On NOV

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Banque Cantonale Vaudoise bought a new stake in NOV during the 1st quarter worth approximately $25,000. CoreFirst Bank & Trust purchased a new position in shares of NOV during the 2nd quarter valued at $35,000. UMB Bank n.a. increased its holdings in shares of NOV by 114.1% in the third quarter. UMB Bank n.a. now owns 3,109 shares of the oil and gas exploration company’s stock worth $41,000 after purchasing an additional 1,657 shares during the period. Hantz Financial Services Inc. raised its position in shares of NOV by 395.3% in the second quarter. Hantz Financial Services Inc. now owns 3,660 shares of the oil and gas exploration company’s stock worth $45,000 after buying an additional 2,921 shares in the last quarter. Finally, Signaturefd LLC raised its position in shares of NOV by 33.2% in the second quarter. Signaturefd LLC now owns 3,733 shares of the oil and gas exploration company’s stock worth $46,000 after buying an additional 931 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors.

About NOV

NOV Inc designs, constructs, manufactures, and sells systems, components, and products for oil and gas drilling and production, and industrial and renewable energy sectors in the United States and internationally. It operates through two segments, Energy Equipment, and Energy Products and Services. The company provides solids control and waste management equipment and services, managed pressure drilling, drilling fluids, premium drillpipe, wired pipe, drilling optimization services, tubular inspection and coating services, instrumentation, downhole tools, and drill bits.